Carys is checking her tax bill for the last year.
The tax rates were as follows:
• No tax on the first £11000 of earnings
• Earnings in excess of £11 000 and up to £43 000 taxed at a rate of 20%
Earnings in excess of £43 000 and up to £150 000 taxed at a rate of 40%
• Earnings over £150 000 taxed at a rate of 45%
Last year, Carys earned £45 600 before tax.
How much tax did she pay in total?

Tax = £7,440

Step-by-step explanation:

Given: Carys earned £45,600 before tax.

1) No tax on the first £11,000 of earnings ⇒ tax = 0

2) Earnings in excess of £11 000 and up to £43 000 taxed at a rate of 20%

3) Earnings in excess of £43 000 and up to £150 000 taxed at a rate of 40%

So, Carys earning in between £43,000 and £150,000

So, £45,600 = £11,000 + £32,000 + £2,600

The tax should she pay = £11,000 * 0 + £32,000 * 20% + £2,600 * 40%

    = 11,000 * 0 + 32,000 * 0.2 + 2,600 * 0.4

    = 0 + 6,400 + 1,040 = £7,440

So, she should pay £7,440

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step-by-step explanation:

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answer

you start with $5 and save $10 a week until you have at least $45wer

step-by-step explanation: